Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Humc Financials 20090001

1,253 views

Published on

HUMC Financials presented 1/28/2009

Published in: Health & Medicine
  • Be the first to comment

  • Be the first to like this

Humc Financials 20090001

  1. 1. Hoboken Municipal Hospital Authority d/b/a Hoboken University Medical Center Financial Statements For The Period Ended December 31, 2008
  2. 2. Hoboken Municipal Hospital Authority d/b/a Hoboken University Medical Center Financial Statements For The Period Ended December 31, 2008 CONTENTS Page 1. Statement of Net Assets 2. Statement of Operations - Hoboken University Medical Center 3. Statement of Operations - Hudson Health Care, Manager 4. Summary of Cash Receipts & Disbursements 5. Selected Financial Indicators 6. Operating Statistics
  3. 3. Hoboken' University Medical Center Statement of Net Assets December 31, 2008 HUMC ASSETS CURRENT ASSETS: Cash and Cash Equivalents $ 2,969,654 Patient Receivables, net of allowance for doubtful accounts 16,559,734 Grants & subsidies receivable 565,507 Due From 3rd Party Payors 4,869,618 Due From Foundation 2,365,840 Inventories 1,955,430 Other Current Assets 2,580,798 Total Current Assets $ 31,866,581 RESTRICTED FUNDS: Cash and Cash Equivalents 29,847,620 CAPITAL ASSETS - Net 43,181,296 BOND ISSUANCE COSTS - Net 1,590,188 TOTAL $ 106,485,685 LIABILITIES AND NET ASSETS CURRENT LIABILITIES: Accounts Payable $ 14,057,912 Accrued Payroll and Benefits 7,014,868 Other Accrued expenses 4,331,233 Interest Payable 1,059,788 Due to 3rd Party Payors 705,025 Specific Purpose Funds 19,189 Deferred Revenue 450,491 Current portion of long term debt 9,720,000 Total Current Liabilities 37,358,506 LONG TERM DEBT 42,280,000 TOTAL LIABILITIES $ 79,638,506 NET ASSETS: Restricted & Unrestricted assets, net of investment in capital assets and related debt 26,847,179 TOTAL $ 106,485,685 Page 1
  4. 4. Hoboken University Medical Center STATEMENT OF OPERATIONS For The Period Ended December 31, 2008 MONTH TO DATE YEAR TO DATE VARIANCE ACTUAL BUDGET ACTUAL BUDGET VARIANCE Operating Revenues: Net Patient Service Revenue less Bad Debt $ 103,953,391 (1,820,071 ) $ 103,381,091 8,756,322 $ $ 6,936,251 $ $ 572,300 Disproportionate Share Revenue - MA 536,374 745,355 10,614,643 8,800,000 1,281,729 1,814,643 Total Patient Service Revenues (1,283,697) 114,568,034 9,501,677 8,217,980 112,181,091 2,386,943 Other Operating Revenues: State Charity Care subsidy (UCC) 295,072 15,632,858 1,364,050 1,659,122 16,368,600 (735,742) State Hospital Relief subsidy 1,497,893 (118,040) 158,749 40,709 1,904,988 (407,095) 21,421 State Mental Health subsidy (91) 255,956 21,330 257,055 (1,099) Graduate Medical Education (Mcare & Mcaid) 105,499 131,636 2,086,958 237,135 1,245,571 841,387 Grant Revenues 379,402 (49,851) 4,078,021 429,253 5,067,960 (989,939) 82,481 Other (37,093) 535,687 45,388 973,803 (438,116) Total Other Operating Revenues 2,161,453 221,633 24,087,373 2,383,086 25,817,977 (1,730,604) Total Operating Revenues (1,062,065) 138,655,407 11,663,131 10,601,066 137,999,068 656,339 Requisitioned Expenses: Manager/Contractor 142,577,418 11,397,400 (725,025) 12,122,425 134,562,854 (8,014,564) 25,410 (13,438) MHA - Direct Organization Costs 392,163 300,000 38,848 (92,163) (738,463) Total Operating Expenses 11,422,810 142,969,581 134,862,854 12,161,273 (8,106,727) Income From Operations Before Depreciation & Amortization (1,800,528) (4,314,174) 240,321 (7,450,388) (1,560,207) 3,136,214 Depreciation & Amortization (533,956) 4,562,795 62,857 596,813 754,285 (3,808,510) 177,463 Income / (Loss) from Operations (2,334,483) (8,876,969) (2,157,020) 2,381,929 (11,258,898) NonOperating Revenues (Expenses) Interest Expense (196,446) 91,833 (2,230,545) (2,319,329) (104,613) 88,784 10,454 152,459 Interest Earnings - Bonds (142,005) 401,186 1,800,000 (1,398,814) - - Extrodinary Gain - Foundation Donation 2,415,000 - 2,415,000 - 133,477 Margin available for funding Trust Accounts - 2008 $ $ (2,384,656) (8,291,328) $ $ $ (10,153,928) 1,862,600 (2,251,179) $ Page 2
  5. 5. Hudson Health Care - Manager/Contractor STATEMENT OF OPERATIONS For The Period Ended December 31,2008 YEAR TO DATE MONTH TO DATE ACTUAL BUDGET VARIANCE BUDGET VARIANCE ACTUAL Expenses: $ $ (2,931,710) Salaries - Employees & Physicians $ $ (338,605) 69,737,222 66,805,512 $ 5,996,995 5,658,390 $ (6,714) Salaries - Residents 1,296,891 1,167,180 (129,711) 98,860 105,574 Fringe Benefits 18,168,189 16,512,063 (195,377) (1,656,126) 1,593,940 1,398,563 6,448,382 (2,336) Physician Pro Fees 7,126,007 (677,625) 546,174 548,510 (102,194) NonPhys Pro Fees & Purchased Srvs 19,671,592 18,284,814 1,548,714 (1,386,778) 1,650,908 1,306,451 16,422,964 15,424,550 (998,414) (32,908) Supplies 1,339,359 256,420 3,027,412 Rentals & Leases (4,112) 3,023,802 260,532 3,610 (20,946) Utilities 3,077,263 2,746,739 232,647 (330,524) 253,593 2,083,463 2,160,417 (1,886) Insurance 76,954 182,986 184,872 Repairs & Maint 1,119,381 1,124,897 95,278 (33,549) 5,516 128,827 13,602 Other 850,644 860,888 10,244 72,917 59,315 $ 142,577,418 $ 134,562,854 $ (8,014,564) Total Operating Expenses 11,397,400 (725,025) $ $ 12,122,425 $ Page 3
  6. 6. Hoboken University Medical Center Summary of Cash Accounts Receipts & Disbursements G/L accounts Note: The Cash balances outlined below are comprised of 5 separate (HMHA Oper, HMHA Rev, CFH lockbox, HHC Oper and HHC Rev). These balances do not include any afthe Bond funds. The Bond funds are separate accounts. Jan 08 June 08 Dec. 08 Nov. 08 Sept. 08 Oct. 08 MarOa Feb 08 Apr08 May 08 July 08 Aug 08 Cash per General Ledger. Beg balance 7,218,291 $ 9,751,599 $ 10,522,913 $ 10,801,029 997.352 $ 7,368,613 $ 2,960,132 8,642.180 (9,571) (865,843) (623,241) $ $ $ $ $ $ 2,012,701 $ Receipts Bond proceeds I Transfers to HHC ooer account 20,417,801 21,763,795 15,466.313 11,368,508 35,025,569 24,761.674 (219,775) 16,371,124 8,572,594 11,496,992 9,158,301 12,004,527 from HMHA Rev fund 0 1,157,877 1,157,877 0 0 4,092,150 0 0 4,468,241 1.157.877 1,157,877 1,157,877 Charity Care subsidy (UCC) DSH Payment 0 0 0 0 0 0 0 0 0 1,922,594 0 3,845,187 5,323,471 7,691,121 9,525,252 5,861,442 5,307,512 9,240,262 6,218,523 Cash Colis on Patient accounts 8,130,258 6,630,840 4,998,420 5,881,569 7,793,753 2,415,000 2,415,000 1,610,000 1,610,000 2,415,000 2,415,000 2,415,000 2,415,000 2,415,000 1,990,000 Mcare PIP payments 2,415,000 1,990,000 0 10,987 0 0 0 0 0 0 0 0 0 0 Interest Income Q Q Q Q Q Q Q Q Q !lilll!l (37018) 345 Other ~ ~p.1i ~ill 28694243 17468942 Zl,288392 :!i.l!2L!lli! 1§.1J!U!l 34063140 12918215 32494627 25960204 ~lli Disbursements (14,643,424) (31,844,654) (21,385,547) (22,311,176) (8,834,217) (8,395,097) (14,644,887) (10,162,602) (9,119,048) Sweeps and Prior Period Corrections (14,050,985) (12,226,810) (14,234,525) Payroll & Tax Expense (5,195,560) (5,298,670) (5,415,523) (10,338,457) (5,526,155) (5,336,928) (5,675,972) (5,496,601 ) (5,380,303) (5,348,676) (5,274,866) (2,208,236) (6,710,720) (5,820,872) (8,073,243) (4,765,946) (6,643,000) (6,138,878) (6,306,089) (6,429,775) (4,654,245) (3,290,604) (5,506,174) (6,755,688) Accounts Payable Wire Transfers: 0 0 0 0 0 0 0 Phys Malpractice 0 0 0 0 0 Q Q Q Q Q Q Q Q Q Q Q 0 Mise (ll,ill,rnJ G!l,lli,ill) (22322983) @.499501) (26120692) (23081660) (lQ,823 689) Net Disbursements m291827) (22721892) ~812 579) (~ (~ s _$ __ ?,()1,2,701 (865,843) __ 10.522,913 $ $ 10801029 7368613 $ 2960132 8642.180 (9,571) (623,241) 2,969,654 ~5_99 997352 $ $ $ $ Cash per General ledger, Ending balance $ $ Page 4 ..
  7. 7. Hoboken University Medical Center SELECTED FINANCIAL INDICATORS For The Period Ended December 31, 2008 YTD Actual YTD Budget FTEs (includes Contract FTEs) 1,129 1,113 Current Ratio 0.9 Days in Accounts Receivable 58.3 96.4 Days in Accounts Payable Net Patient Service Rev (less Bad Debt) per Adj Discharge $7,803 $8,748 $9,443 Total Revenue per Adj Discharge $10,761 Total Expenses per Adj Discharge $10,048 $10,575 $1,432 Net Patient Service Rev (less Bad Debt) per Adj Patient Day $1,541 Total Revenue per Adj Patient Day $1,733 $1,895 Total Expenses per Adj Patient Day $1,844 $1,863 Page 5
  8. 8. Hoboken University Medical Center SELECTED OPERATING STATISTICS For The Period Ended December 31,2008 Month-to-Date Statistic Year-to-Date Budqet Actual Variance Actual Budget Variance * 9,434 Discharges 792 (1) 793 9,367 67 4,481 Patient Days * 51,411 (666) 3,815 53,159 (1,748) (21.48) ADC 140.47 144.55 123.06 145.24 (4.78) 5.45 0.23 ALOS 4.82 5.65 0.83 5.68 Emergency Room Visits ** 30,403 2,822 2,575 247 32,012 1,609 Emergency Room Admits 477 436 41 4,745 5,149 (404) Surgeries (IP & OP) (15) 420 435 5,555 5,130 425 Medicare Case Mix Index *** 1.2568 1.2089 0.0479 1.2794 1.2089 0.0705 Total Hospital CMI *** 0.9537 0.8991 0.0546 1.0359 0.8991 0.1368 * Excludes Newborn ** Includes Emergency Room Admits *** Excludes Psych & Rehab Page 6

×